On December 7th, according to The Block, Ethereum scaling startup Versatus Labs (formerly known as VRRB Labs) announced that it had completed a $2.3 million seed round financing at a valuation of $50 million, with participation from NGC Ventures, Republic Crypto, and Hyperithm.

Earlier this year, the company completed a $1.4 million seed round financing, and has now raised a total of $3.7 million. Versatus is currently building a "stateless Rollup" called LASR. LASR is currently in the Alpha stage and is expected to launch on the Ethereum testnet in the first week of January next year, with plans to go live on the mainnet in mid-March.